Extreme Bitcoin Dump | BTC Breaks Down Bullish Biased Pattern

1

  • 3
  • 2
  • 0.000
  • Reply

  • Open in the desktop app ADD TO PLAYLIST

    moon333

    Published on May 06, 2022
    About :

    Hi, friends hope you are well and welcome to the new update on Bitcoin.

    Big bullish Cypher move:

    In Jan 2022, Bitcoin formed a bullish Cypher pattern, which I shared with you, then it rallied well but now again moving down to the potential reversal zone of the same pattern:

    image.png
    https://www.tradingview.com/chart/BTCUSDT/UD39wZDS-Important-Bitcoin-update-for-Patrons/

    Down channel and rising wedge:
    While moving up from the buying zone of Cypher, BTC also broke out a down channel and formed a rising wedge pattern. Now Bitcoin has broken down the support of the rising wedge .

    image.png

    Bearish pennant:
    After breaking down a rising wedge pattern, Bitcoin formed another bearish pennant which is considered a bullish biased pattern. But finally, BTC broke down the support of this pennant . Now the next major support is at $33K.

    image.png

    Weekly view:
    On a weekly time frame, BTC is forming higher highs and higher lows and formed up trendline support, this time this support is approximately at $33800.

    image.png

    Conclusion:
    Bitcoin has started breaking down bullish biased patterns which is a bit critical. But on the weekly view it is still forming higher highs and higher lows, therefore we need to keep our eyes on this weekly support now.

    Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade

    Tags :

    bitcoin btc leofinance bitcoin news cryptocurrency hodlcommunity

    Woo! This creator can upvote comments using 3speak's stake today because they are a top performing creator! Leave a quality comment relating to their content and you could receive an upvote worth at least a dollar.

    Their limit for today is $0!
    Comments:
    Time until moon333 can give away $0 to their commenters.
    0 Days 0 Hours 0 Minutes 0 Seconds
    Reply:

    To comment on this video please connect a HIVE account to your profile: Connect HIVE Account

    More Videos

    05:47
    8 views a year ago $
    15:01
    17 views 4 years ago $
    00:50
    3 views a month ago $
    23:43
    8 views 2 years ago $